BTC/USD analysis 09/08/2021
Bitcoin quotes broke through the resistance area of $ 50,000 (61.8% Fibo) and found the next one around the level of $ 53,000, after what the quotes are corrected and they are currently at the level of $ 43,000, where intersect (MA100 and MA200).
In connection with the breakdown of the resistance of $ 50,000 (61.8% Fibo), the technical picture suggests a continuation of growth from the current levels with the potential growth to the absolute maximum above $ 65,000.
A signal to cancel the growth development will be the quotes decline below $ 41,000, what will mean a breakout (MA100 and MA200) and indicate a possible continuation of the decline towards the $ 38,500 level (61.8% Fibo) from the current downward correction on the daily timeframe.
Created by Joshua Hayn